Algonquin Power & Utilities (TSE:AQN) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Algonquin Power & Utilities Corp. (TSE:AQN)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$7.23 and traded as high as C$8.10. Algonquin Power & Utilities shares last traded at C$8.07, with a volume of 1,117,830 shares changing hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on AQN shares. National Bank Financial lowered shares of Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating and set a C$6.75 price target for the company. in a report on Tuesday, June 3rd. BMO Capital Markets cut shares of Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 12th. Finally, TD Securities raised their price objective on shares of Algonquin Power & Utilities from C$6.00 to C$6.50 and gave the stock a “hold” rating in a report on Wednesday, June 4th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$6.63.

Algonquin Power & Utilities Stock Performance

The company has a debt-to-equity ratio of 154.35, a quick ratio of 0.37 and a current ratio of 0.92. The company’s 50 day moving average is C$7.86 and its 200 day moving average is C$7.23. The firm has a market cap of C$4.38 billion, a P/E ratio of -4.05, a P/E/G ratio of 1.07 and a beta of 0.52.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp, a parent company of Liberty, is a diversified international generation, transmission, and distribution utility with over $16 billion of total assets. Through its two business groups, the Regulated Services Group and the Renewable Energy Group, AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of electric generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada.